Summit Specialty is a small business in Alpharetta, Georgia that supplies interior pine doors for the U.S. residential housing market. GSP eliminates the 4.8 percent import tax on the 1 3/8″ doors that Summit sources from Brazil and helps reduce costs for new single-family homes built throughout the United States.
New tariffs from GSP expiration in 2013 put Summit’s products at a disadvantage to doors imported from non-GSP countries. In total, Summit Specialty paid just a hair under $200,000 in extra taxes because of GSP expiration. As a result, Summit Specialty delayed both hiring additional workers and new capital equipment purchases, thereby halting its growth.
The retroactive renewal allowed Summit Specialty to hire 2 new workers and improve the existing jobs by increases salaries and starting to provide health insurance. Summit Specialty also invested in new capital equipment, positioning it for continued future growth.
Our Summit Specialty profile page has more details about the importance of continued GSP benefits to the company (also available as a one-page PDF here or below).
Learn how GSP allows other American businesses and workers to thrive on our Company Profiles page.